Davis Polk & Wardwell, Simpson Thacher & Bartlett and Kirkland & Ellis are among the U.S. firms advising on Chinese recruiting company 51job Inc.’s $5.7 billion private equity buyout.
A consortium led by Beijing-based private equity firm DCP Capital, Shanghai-based Ocean Link Partners and 51job’s chief executive Rick Yan will pay a 29% premium to take the Nasdaq-listed company private. The company, which operates several job listings sites, including 51job.com, and also provides outsourcing personnel services to employers, went public in 2004.
